Your fridge is one of the most power-hungry appliances in your home, and depending on its age, it may be costing you enough in power every year that a new one would pay for itself in a short time. To find out, the Energy Star Refrigerator Retirement Savings Calculator takes the model of your fridge, estimates how much it costs per year to run, and shows you how much a newer model would cost in comparison.

The calculator is simple: you can either enter the model number of your fridge, or fill out some basic information about it. Provide your state's electricity cost (per kilowatt hour), and calculate your savings. The calculator will show you how much your current model costs you every year, and then shows you how much a newer, Energy Star certified model would set you back. Granted, you still have to do the math to find out how many years you'd have to own the new fridge for it to pay itself off in power savings.

It can also show you how much you'll pay in power if, instead of removing your old fridge, you toss it in the garage to keep sucking down power and store a few extras or cold drinks for the summertime. Either way, the calculator is useful to have around if you're thinking about upgrading your fridge, or cutting down your power bill.